Kim’s web sitefor wheat market information
Kim’s web sitefor wheat market information
agecon.okstate.edu/andersonagecon.okstate.edu/anderson
Ending StocksEnding Stocks
U.S.
World
5-yearaverage2006/07
520456
5,3204,589
Million Bushels
2007/08
362
4,128
Argentina & AustraliaArgentina & Australia
Million Bushels
2006/07 2007/08 5-yr avg.
Argentina 559 514 532
Australia 367 772 692
ProductionProduction
5-year avg. ‘07 Guessmillion bushels
World 21,720 22,428 22,80021.7 22.9
21.9
U.S. 2,106 2,114 2,2502,005
U.S. Wheat Supply and UseU.S. Wheat Supply and Use
Beginning stocksProduction Supply, TotalExports
Use, TotalEnding StocksAvg. farm price
370
2,250
2,720
1,025
2,225
495
$4.60
million bushels
Kim’s08/09
456
2,114
2,655
1,075
2,293
362
$5.40
USDA07/08
World Wheat Supply and UseWorld Wheat Supply and Use
Beginning stocksProduction Supply, TotalUse, TotalEnding Stocks
4.13
22.80
26.93
22.50
4.43
million bushels
Kim’s08/09
4.59
22.43
27.02
22.80
4.22
USDA07/08
U.S. and world wheat stocks remain tight
KCBT & Basis imply higher Nov ’07 prices
Going into harvest, prices will be relatively high
Market ~$5.60
Kim ~$4.80
Corn ~$4.30
Important pointsImportant points
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